FAQ
Selling a home in Iowa
Transfer tax, estimates, and what the county record is for.
Asked, answered
Selling a home in Iowa
- Who pays Iowa's real estate transfer tax?
- The seller, at recording. Iowa Code 428A.1 sets it at eighty cents per five hundred dollars of price above the first five hundred dollars.
- Is the commission line a rule?
- No. It is an input. The default on the page is a starting estimate. Your listing agreement is the number that counts.
- Will this tell me what my house is worth?
- It will show the county's last recorded sale and assessed value if the parcel matches. A sale price is what a buyer pays, which this page does not know.
- Are the results a closing statement?
- No. They are an estimate, except the transfer-tax line, which follows the statute. A closing statement is prepared by the closing agent.